Overcoming Learning Aversion In Evaluating And Manage †Free Sample

Questions: 1. Risk management introduction of Characters and the risk they've faced. 2. What is your role in a supply chain of your choice. 3. What are the Consumer/Customer risks you might face? 4. How would you overcome these risks? Answers: Answer 1 1) Pablo Escobar Pablo took a great risk to run business that involved smuggling contraband including liquor and tobacco. Whereas his profit margins stood desirable, his risks surged significantly together with product quantity being moved. He even took a risk to involve in drug trade by quickly realizing that he could generate additional revenue with a single truck of cocaine that with forty trucks full of cigarettes and booze. Thus for him, he mastered the pivot and would not be stopped by the risk involved so long as he was convinced that a new business model might be potentially more lucrative. He also faced competition risks but he ensured he kept his competitors close. He made business deals with his rivals. Medellin Cartel was more of a loosely connected cohort of drug lords chaired by him. 2) Steve jobs Steve took three major risks with the original Mac. These include: Steve redesigned the hardware 3 times; Steve switched to a disk at last moment, and Steve made the software far more sophisticated that it had to be hoping for the future-proof machine. Because the software was taking too long to develop, Steve took the time needed redesigning the product and perfected the physical hardware. He made trade-offs between time and the critical path thus made iterations to make a difference. Steve also risked by switching to a disk drive at last moment when they had planned initially to use the same massive drive in its Lisa computer. When Steve realized that Sony couldnt get them fit to go in time. In respect of the sophisticated software risk, Steve indicates that he had to take this risk since he wanted the machine for over ten years and hence wanted to build in something that would last to thrive. He indicates that he was aware that if he never got this machine advanced stuff, it would never last. 3) Henry Ford He faced in the market whereby cars stood a niche product as they were expensive and only for the rich. This did not bar him, but he took the risk and innovated to lower the costs of production whereas increasing the salaries of factory workers. Despite the environmental and social business risks/issues he faced, he viewed them from the perspective of product design via sourcing input, user groups, and re-use. He did this by treating such issues as an integrated problem space which needed an integrated solution. 4) Amr Diab He has faced reputational risk linked to the rumors about his relationships with his children. His image is defamed based on the rumors about his relationship with his two daughters Kenzi and Jana. People have been saying that he had various problems with his sons regarding his relationship with Dina-al-Sherbini. These are risks that have tried to make her lose his fans. 5) Zinedine Zidane His crisis-hit side risks going the Mourinhos way. He risks being fired by the Real Madrid the same way they fired his predecessor. Indeed, Zidane is facing the pressure of Real Madrid which is burdening his shoulder as well as stressing his face. He faces the risk of losing his position if he doesnt re-install his core managerial values in Real Madrid. 6) Rosa Parks She faced the risk of always being a target for racial discrimination and segregation due to her appearance. She faces this risk almost on a daily basis throughout her childhood which really hit her harder as a result of her actions. She suffered the risks associated with arrest for the next few days after being arrested over the bus incident. She even suffered the risk of losing her job due to her actions and even that of the husbands job loss. Answer 2 My supply chain of choice is to distribute milk from manufacturer to both retailers (customer) and final consumers. My role in this chain is, therefore, to ensure that the milk reaches my customer and consumers in time. I also have a role in checking the quality standards are met before taking milk from the manufacturers (Thakur and Mala 45). Also, I have a role to ensure that my customer and consumers are not overcharged for the milk they buy. Answer 3 A consumer risk is the potential familiar in all consumer-oriented products that an item that doesnt meet the standards of the quality set will pass unnoticed through the quality control system of the manufacturer and enter the marketplace of the consumer (Stadtler 80). In my business of supplying milk products from the manufacturer to the retailers, various consumer risks are noted (Yang et al. 39). They include; functional risks, social risks, physical risk and time risks (Hugos 59). Functional risk will results from the fear by milk consumers that the milk may not functions as they wish. Social risk will result from the fear that buying milk would affect appearance/status. The physical risks will result from the fear that milk would end up causing consumers damage. Time risks will result from the fear that a consumer might not receive the milk in time by waiting longer than expected (Monczka et al. 76). Answer 4 I would over time risks by ensuring that I have a schedule for delivery or distribution that I must strictly follow. This will help me ensure that I have time delivery for both retailers and consumers to make a decision on whether to return the default milk or sell (retailers) and consume (consumer) in time to get the value of their money. Also, I will overcome the functional risks by ensuring that the milk I take is first checked for quality and defects before distributing (Christophe 54). Also, I will overcome social risks by only distributing the particular milk acceptable in the market I serve and those that are from reputable manufacturers. Finally, I will overcome physical risks by ensuring that the milk I distribute meets the quality standards and that they come from reputable manufacturers (Cox 65). Also, I will always check before taking any milk whether they have not expired which might cause damages to the consumers and customers (Yu, Chian-Son, Chien-Kuo and Wachara 75). Reference Christopher, Martin.Logistics supply chain management. Pearson UK, 2016. Cox, Louis Anthony Tony. "Overcoming learning aversion in evaluating and managing uncertain risks."Risk Analysis35.10 (2015): 1892-1910. Hugos, Michael H.Essentials of supply chain management. John Wiley Sons, 2018. Monczka, Robert M., et al.Purchasing and supply chain management. Cengage Learning, 2015. Stadtler, Hartmut. "Supply chain management: An overview."Supply chain management and advanced planning. Springer, Berlin, Heidelberg, 2015. 3-28. Thakur, Rakhi, and Mala Srivastava. "A study on the impact of consumer risk perception and innovativeness on online shopping in India."International Journal of Retail Distribution Management43.2 (2015): 148-166. Yang, Qing, et al. "Exploring consumer perceived risk and trust for online payments: An empirical study in Chinas younger generation."Computers in Human Behavior50 (2015): 9-24. Yu, Chian-Son, Chien-Kuo Li, and Wachara Chantatub. "Analysis of consumer e-lifestyles and their effects on consumer resistance to using mobile banking: Empirical surveys in Thailand and Taiwan."International Journal of Business and Information10.2 (2015).